Immutable Announces New Layoff Amid Slump In Crypto Prices

The Australian-based gaming studio Immatables has announced letting go of several developers that were working on Gods Unchained. 

Including one of their senior game designers, Immutable announced a new layoff in a “small reorganization.”

Immutables secured $200 million in funding in its latest fundraising round – now, the gaming studio is valued at $2.5 billion. 

As Immutables “fires” several developers and their lead designer, James Wakeham, on Gods Unchained, the lead designer has come out and Tweeted about how the company has let go of him “and a bunch of people.”

Now, he and his company mates are now looking for a new job. Sources say that the layoff was announced on Monday – in a meeting. It has affected around 6% of the studio’s employees. 

Immutables Gaming Studio is an Ethereum-based layer-2 solution for Non-fungible Tokens (NFTs) and Web3 games. TikTok and GameStop are using this solution as they recently launched their own NFT marketplace on it. 

According to a report from CNET, the CEO and Co-Founder of Immutable, James Ferguson, has told the employees not to worry about anything. He said the company is in “a fantastic position.”

Even though the layoff is sudden, Immutable is still making it clear that the studio will not stop hiring new talent. They have plans to hire an expert workforce to work on their blockchain-based trading card game Gods Unchained.

Additionally, they will be hiring new talent to work on their upcoming title, Guild of Guardians. Guild of Guardians is a role-playing game being developed by Stepico Games.

“We are actively increasing hires across product, engineering, and tokenomics in Gods Unchained as we focus on scaling it to mainstream and beyond,” Immutable’s spokesperson stated.

The spokesperson also commented on the layoff, saying, “We have made the decision to conduct a small reorganization within Gods Unchained to help better enable us to achieve our goal of creating the next generation of web3 games.”

The company grew its employees from 180 to 280 and is expected to reach 360 employees by the next five months.

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